I'm going to stop posting transcripts from IRC, someone else want to?

jgarzik on irc.freenode.net #bitcoin:

Eleuthria on irc.freenode.net #bitcoin claims he can set up jgarzik with a BTCguild account where a publicly visible stats page would be available for us all to look at.

The plug is the chinese standard (also used in Australia)

For faster updates join irc.freenode.net #bitcoin

You know that customers won't band together and negotiate for better terms though, right?

The "strike-breaker" here would be the first customer who thinks, forget about the other guys, I want an ASIC first and I'll mine a whole bunch of coins before they get any, suckers!

That may not be true but it's too much of a temptation. No customer coalitions will form in the race to get one of the first ASICs produced.

Yup. We'll hit $20 within 2 days (probably tomorrow).

I should probably add that if you have more than 2 please PM us and we might be able to work something out.

It would be worth more if you sell more than 2. Not $2,499/ASIC but more than $1,299/ASIC.

Until Yifu (who posts as BitSyncom on the forum) gets to NY you won't be able to get anyone to change their shipping address on an order. He explains that in the Batch #2 pre-order thread.

I would be interested in buying a Batch #1 ASIC also. I can pay via bank transfer or in person (cash or cashier's check) but either way --

1. I would need the tracking number before I will pay

2. I would need to be at the shipping address on the day of delivery to receive the shipment in person

If someone from Batch #1 wants to sell more than 1 ASIC it sounds like we can buy 2 ASICs from you assuming Baphomet agrees. Maybe more if there are more who want to buy. I suspect there are a lot of people willing to buy a Batch #1 ASIC.

There are thousands of SSL certificate authorities.

Any of them can issue a valid SSL certificate for any website.

So the current trust system is a single point of failure, yes. Any of the certificate authorities can make a certificate for any website.

It may be that many small investors are trying to move USD -> BTC https://bitcointalk.org/index.php?topic=139704.0

Haha, Annie sings "Tomorrow! Tomorrow!"

MTGox is taking about 10 days right now for payouts.

You should be able to just buy some bitcoins and watch the BTC to USD rate rise, which means in terms of USD you are making money.

Doesn't look like it'll hit $19 today...

I suppose it wouldn't hurt to point out that if all existing fiat currency were to hyperinflate into nothingness, we'd still know about the concept of money.

The question then would not be, should we use money? Of course people will want some kind of money around as a convenient method of exchange. People know about the concept so they're going to want to use it.

So probably what they'll be asking is, what should we use for our money?

It's the same question faced by a new nation. Look back at the US Dollar: people started with gold, a commodity, for exchange. Historically, people didn't need the gold as a commodity, per se. There weren't very many goldsmiths, there wasn't much of a ruling class, so what good was gold to the average person back then? Gold had intrinsic value but little utility except what the average person believed it was worth. Arguably the value was still real, but not fungible in the US at the time the US Dollar became a standard. At the time a person would need to travel a great distance to get to an economy where gold was directly fungible (for example, to Europe). The US economy just did not consume much gold – the same gold was just exchanged a lot.

Gold was a convenient method of exchange when the US Dollar became a standard.

I don't hold any gold, but in my opinion the historical popularity of gold is an important data point. What will most people accept in an exchange? I can't believe I have to spell it out! Gold, duh!

The "promissory note" US Dollar could be exchanged for a specific quantity of gold, right up until it was detached from its gold backing. My point is: the US Dollar was a currency based on a method of exchanging value, not debt. The choice of the word "promissory" did not imply that the dollar was based on debt obligations.

Does it make any difference if a currency is based on debt (loans) or credit (gold)? I think it does. A currency based on credit is a deflationary currency, and Bitcoin isn't the first deflationary currency in history. The US Dollar was a deflationary currency as long as it was backed by gold. Any currency that does not have value, or is not based on credit, must be based on debt and all such currency is purely inflationary. The limit of any debt-based or inflationary currency taken to its natural conclusion is to be completely worthless.

Now here's justice for you:

All those Duke Lacross players will be marked for life by the court case. You know their names are all over the internet now. Oh, and have they been compensated for that?

Mike Nifong, on the other hand, "will not be eligible to regain his license until 2012." Did he compensate the Duke team for what he did? How about some jail time? (Contempt of court would be appropriate.)

And Carmen Ortiz isn't facing any disciplinary action either. The motel owner is suing the US Government for damages...$600,000 isn't going to break the US Government but it may anger them. The motel owner is playing a dangerous game tweaking Uncle Sam's nose.

It's a great idea! What you want to do is find some people to work with, like you said.

Once you have 5 posts and have spent 4 hours on this forum, I'd suggest you post the idea in one of these boards:

Project Development
- or -
Service Announcements

One way you can get 4 hours is to read some of the threads on each of those. You can easily get 5 posts here on Newbies.

Very interesting idea, I hope it works out!

I like bitcoins! 1GiN4UWo8VZ9PZuJXfMQYbQyP9opGsayYD

Thank you!

Nice